TORONTO--(BUSINESS WIRE)--Goldmoney Inc. (TSX:XAU) (US:XAUMF) (“Goldmoney”) (“the Company”), a precious metal financial service and technology company, today announced the release of a new white paper by Goldmoney CEO Roy Sebag: “Drop Gold and The Myths We’re Told – A Naturalist’s Exposition of Gold’s Manifest Superiority to Bitcoin as Money”.
The white paper addresses recent statements and representations made by Grayscale Investments, LLC (“Grayscale”) and its principal, Barry Silbert, through an advertorial campaign entitled: “DropGold”. The paper examines the natural properties of bitcoin and gold and highlights several proofs for why gold is superior to bitcoin as money.
1. Bitcoin, far from being weightless or virtual, is in actuality
physically heavier than gold.
2. Bitcoin occupies more volumetric space than gold.
3. Gold is more value dense than bitcoin.
4. Bitcoin needs gold to exist, gold doesn’t need bitcoin to exist.
“It is my hope that the Bitcoin community will embrace this research and a shared understanding that the gold and cryptocurrency communities should be working together rather than against each other as we march towards the inevitable demise of the fiat currency system,” said Roy Sebag, CEO of Goldmoney.
About Goldmoney Inc.
Goldmoney Inc. (TSX: XAU) is a precious metal focused company that safeguards $1.8 billion of assets owned by clients located in over 150 countries. The company’s activities include: sale and purchase of precious metals and their storage through Goldmoney.com, online jewelry retailing through Mene.com (TSX-V: MENE), coin and bar sales and purchases through SchiffGold.com, and gold and silver collateralized lending and borrowing through LendBorrowTrust.com. Through these businesses Goldmoney provides its shareholders with long-term exposure to the precious metals. For more information about Goldmoney, visit goldmoney.com.
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Forward-looking information in this release includes, but is not limited to, statements with respect to: service times for transactions on the Goldmoney network; growth of the Company’s business, expected results of operations, and the market for the Company’s products and services and competitive conditions. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the Company’s operating history; history of operating losses; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company’s common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company’s operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company’s ability to manage rapid growth; competition; the ability to identify opportunities for growth internally and through acquisitions and strategic relationships on terms which are economic or at all; effectiveness of the Company’s risk management and internal controls; use of the Company’s services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; and those risks set out in the Company’s most recently filed annual information form, available on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by law.